Private Nursing Services Market to reach US$ 848.7 Billion by the year 2031 | Industry Size, In-Depth Qualitative Insights and Explosive Growth Opportunities till 2031

Surge in occurrence of chronic disorders among the geriatric population requiring effective nursing services and the huge demand for cost-efficient treatment.

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The global private nursing services market generated $415.7 billion in 2021, and is projected to reach $848.7 billion by 2031, growing at a CAGR of 7.5% from 2022 to 2031.

COVID-19 Scenario:

The outbreak of the COVID-19 pandemic negatively impacted the growth of the global private nursing services market. This was a result of private nursing service organizations ceasing their operations, owing to lockdowns imposed across several countries, staff shortage, and the fear of contracting the novel coronavirus.

Strict implementation of social distancing laws, closed boundaries, and delay in the production of healthcare products, owing to the pandemic across various countries such as China, India, and the U.S. severely affected the global market growth.

The increase in the prevalence of chronic diseases among individuals worldwide is likely expected to contribute to the private nursing service market growth in the upcoming years.

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Key Findings of the Study:

Based on service type, the home health care providers sub-segment emerged as the global leader in 2021 and the retire communities sub-segment is anticipated to be the fastest growing during the forecast period.

Based on gender, the female sub-segment emerged as the global leader in 2021 and the male sub-segment is predicted to witness the fastest growth in the upcoming years.

Based on region, the Asia-Pacific market registered the highest market share in 2021 and is projected to maintain its position during the forecast period.

Opportunities:

Escalating demand for home healthcare solutions.

Restraints:

Lack of availability of highly skilled and experienced nursing staff.

On the basis of gender, the female segment held the largest market share in 2021, accounting for more than four-fifths of the global private nursing services market share, and is expected to maintain its leadership status during the forecast period. Nevertheless, the male segment, is expected to cite the highest CAGR of 8.26% during the forecast period.

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The key players analyzed in the global private nursing services market report include The Ensign Group, Inc., Kindred Healthcare, LLC, Genesis HealthCare, Brookdale Senior Living Inc., Kaiser Foundation Health Plan, Inc., CBI Health., Trinity Health, Columbia Asia, Apollo Hospitals Enterprise Ltd., and Grand World Elder Care.

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